Resistance on ES @ 1138.67

Discussion in 'Index Futures' started by Flashboy, Jan 16, 2004.

  1. dbphoenix

    dbphoenix

    I used to be where you are. Then I stopped thinking so much and learned to trade what I see. It's made me a more relaxed trader.
     
    #31     Jan 16, 2004
  2. When I'm relaxed which isn't too often I trade much better.. Its definitely the way to trade.. relaxed and detached..

    A typical example of what happens to me is like today.. was very patient.. waited for a good set up.. was watching closely at that resistance.. didn't take the trade.. but aha.. I was right..

    so then I start looking harder for a trade and throw my rules to the side..

    I will get it.. I just hope I don't run out of money first...
     
    #32     Jan 16, 2004
  3. dbphoenix

    dbphoenix

    This is really no different than taking a trade simply to make up for a previous loss. But there is no "making up for". Each trade is a discrete event. If you make an error, make your notes and move on. Don't allow your feelings about the event bleed into the rest of the day. If you can't help it, take a walk.
     
    #33     Jan 16, 2004
  4. dbphoenix

    dbphoenix

    Going back to this comment that you made earlier, I'd be happy to discuss S/R in the chat room with anyone who's interested. I couldn't care less about who's long or short or by how much or where they entered (all of which just encourages people to follow suit) or how much money they've made. But an extra pair of eyes is always handy when looking at potential levels of S/R or at some particular candle/bar.

    The operative word here, tho, is "discuss". Come prepared. Map out your S/R levels the night before.

    I'm usually there by 0815, esp if there are 0830 reports (there aren't any next Tuesday). If there's anything to discuss, and anyone to discuss it with, I'd rather not wait until just before the open to plan everything out.
     
    #34     Jan 16, 2004
  5. Thanks db,

    I think I'll take you up on that.. talk to you Tuesday morning
     
    #35     Jan 16, 2004
  6. SHORT 5 es 1138

    You ARE kidding, right???

    :(
     
    #36     Jan 16, 2004
  7. Waggie,

    Why would you not believe that???
     
    #37     Jan 16, 2004
  8. Check your PM Box.
     
    #38     Jan 16, 2004
  9. $1600 per an ES contract with IB. Thats $8000 worth of margin. Whats the big deal?


    --MIKE
     
    #39     Jan 17, 2004
  10. Boomer

    Boomer

    db, i would love to chat about s/r. talk at ya tuesday morning...
     
    #40     Jan 17, 2004